Filing Flows › Snowflake (SNOW) › Q1 FY26
Snowflake (SNOW) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed May 30, 2025
Snowflake (SNOW) reported revenue of $1.0B for the first quarter fiscal 2026 (Q1 FY26), +26% from a year earlier and +6% from the quarter before. Operating margin was -42.9%, net loss $430M (41.3% of revenue).
Snowflake, Q1 FY26: revenue $1.0B (+26% year over year), operating margin -42.9%, net loss $430M, operating cash flow $228M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +6% | +26% |
| Operating profit | −$447M | — | — |
| Net earnings | −$430M | — | — |
| Operating cash flow | $228M | -47% | -36% |
| Free cash flow | $183M | -56% | -46% |
What changed
Revenue was $1.0B in Q1 FY26, up 26% year over year and up 6% from the previous quarter. Product revenue was the largest line at 96% of revenue. Product revenue added $0.21B year over year (up 26%), 97% of the total change.
Gross margin was 66.5%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $0.45B, an operating margin of -42.9%. Operating expenses grew 26% against revenue growth of 26%. The fastest-growing cost line was General & admin (+125%). The quarter ended with a net loss of $0.43B, wider than the previous quarter's $0.33B loss.
Operating cash flow was $0.23B (down 36% year over year). Non-cash charges added back $0.05B of depreciation and amortization and $0.38B of share-based compensation. Working capital and other items added $0.23B. Capital expenditures of $0.04B left free cash flow of $0.18B.
Questions
What was Snowflake's revenue in the first quarter fiscal 2026?
Snowflake (SNOW) reported revenue of $1.0B for the first quarter fiscal 2026 (Q1 FY26), +26% from a year earlier and +6% from the quarter before.
Was Snowflake profitable in the first quarter fiscal 2026?
Operating loss was $447M (-42.9% of revenue) and net loss $430M.
Source: Snowflake 10-Q on SEC EDGAR.